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Czech Republic Industrial production January 2020

Czech Republic: Industrial output contracts for eighth consecutive month in January

Industrial production fell 1.4% year-on-year in working-day adjusted terms at the outset of 2020, which followed the 3.3% drop recorded in December and marked the eighth consecutive month of decline. The downturn was primarily driven by yet another contraction of the manufacturing sector, particularly in the production of fabricated metal products. On a somewhat brighter note, output in the key automotive segment rebounded strongly in the month. Meanwhile, the mining and quarrying industry, and the electricity, gas, steam and air conditioning supply sector continued to shrink in January.

In seasonally-adjusted month-on-month terms, industrial output rose 1.1% in January, rebounding from December’s 1.1% slip. Lastly, the annual average variation in industrial production fell to minus 0.4% from minus 0.3% in December.

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